Tenants in loft law units sought rent regulation protection based on 2010 amendments. 59 Crosby Street in Manhattan was an interim multiple dwelling covered under the 1982 loft law. This law required an owner to convert an interim multiple dwelling building into legal residential premises and obtain a certificate of occupancy. The owners of 59 Crosby in 1984 purchased the rights and improvements to the fifth-floor interim multiple dwelling unit from the then-current tenant. In … <Read More>
Search Results for: Benefits
Denial of State brownfield benefits overturned
DEC denied access to State’s brownfield cleanup program on theory that contamination did not complicate development. In 2007, a developer purchased a 17,700 sq.ft. former parking lot at 29 Flatbush Avenue in Fort Greene, Brooklyn, intending to build a 342-unit residential building. An environmental assessment of the site’s subsurface revealed the presence of lead and at least seven semi-volatile organic compounds at levels exceeding regulatory standards. In April 2008, the developer filed an application with … <Read More>
IDA approves $46M in tax and other benefits
- Proposed office tower for 125th St. Image: Swanke Hayden Connell Architects.
Major League Baseball project in Harlem is among the beneficiaries. On March 6, 2008, the New York City Industrial Development Agency held a public hearing on proposed public subsidies to private entities, including a joint venture between Vornado Realty Trust and California Urban Investment Partners. The joint venture was established to build a 21-story office tower on 125th Street and Park Avenue, directly southwest … <Read More>
IDA approves up to $105 million in public benefits
The Diamond District and the Tennis Center are among the beneficiaries. On November 13, 2007 the New York City Industrial Development Agency voted to provide over $105 million in financial assistance to four entities.
IDA awarded up to $51 million in tax benefits to Extell Diamond Tower LLC, an affiliate of Extell Development Company, which will build an integrated diamond and jewelry industry facility in Manhattan’s Diamond District. IDA will extend a mortgage recording … <Read More>
City Launches Pilot Program to Help Domestic Violence Survivors Access Safe, Permanent Housing
On April 15, 2024, Mayor Eric Adams and Department of Social Services Commissioner Molly Wasow Park announced the launch of a new pilot program, “Project Home,” that will provide intensive specialized housing search assistance for permanent homes for domestic violence survivors with children who are currently in city shelters.
Dept. of Finance Launches Property Tax Exemptions Look Up Tool
On March 27, 2024, the Department of Finance released a new application status tool for property owners to check the status of their property tax benefit applications. The lookup tool, at www.nyc.gov/exemptionstatus, will also allow New Yorkers to request more information if their applications are incomplete.